Antoine Dréan, the founder and managing partner of Triago-X, said capital raised in the flotation would be used to fund the expansion of the business, along with the introduction of new technology such as databasing systems and a platform to provide buyside and sellside transaction data.

Dréan added: "We will also use capital from the flotation to boost our team of 10 in Paris with six or seven new arrivals. We intend to open a New York office, to take advantage of the massive secondaries market in the US."

Allegra Finance, a Paris-based listing sponsor, is managing the flotation, which will happen once regulatory approval has been granted. Neither Triago-X nor Allegra disclosed pricing details.

Triago-X is part of the Triago Group, whose principal unit, placement agent Triago Advisors, was formed in 1992. Triago-X's profit of €1.9m ($2.5m) for the year ended 31 March 2006 was substantially higher than the previous year's result, according to a spokeswoman.

The secondaries market is worth $8bn (€6.4bn) a year, but that is still a small proportion of the $250bn raised by private equity last year.

Dréan said: "We are at the beginning of something huge. As private equity matures as an asset class, demand for the top funds is at a premium. Secondary transactions are a useful solution, both for investors who want liquidity and for new investors seeking positions in oversubscribed funds."